November 6th, 2020 6:44 PM by Mike Barbaro
It's already November! Time does sure fly! It made us curious on when the best time to search for a new apartment would be during the year in Houston?
Latest analysis found that renters looking to move in late spring and early summer can pay a premium for their next home. In 37 of the country’s 50 largest metro areas, the median asking rent for apartments listed on HotPads reaches its highest point for the year in May, June or July.
Nationally, the median asking rent for all rentals listed on Hot Pads is $1,540 a month. In June, the median asking rent for apartments listed on Hot Pads is 4.1 percent higher than average, which equates to spending $63 more on rent every month. Rentals listed in May have the highest premium nationally, at $88 per month.
Those who are willing to wait it out for a deal are most likely to find lower prices in the winter. Natiomwide, January is the least expensive time to rent a new house or apartment. Compared to other months, the asking rent for a typical home or apartment is 3.3 percent lower in January, equivalent to a $51 discount every month.
Data source: Hot Pads
We are a FREE Service -- Since 1971!